Centana Growth Partners Closes Oversubscribed $250 Million Fund, Looks to Invest in Future of Financial Services
Initial portfolio investments include insurtech firm One, Inc. and digital identity firm Jumio
NEW YORK – (BUSINESS WIRE) – Centana Growth Partners, L.P (Centana), a unique growth equity firm focused on the future of financial services; today announced the successful, oversubscribed close of $250 million for its first fund. The firm is now investing capital in innovative companies across the financial services ecosystem. Centana has already led four investments, including its most recent with One, Inc., an insurance technology company.
Founded by partners Eric Byunn, Ben Cukier and Steven Swain, Centana launched in 2015 with a vision to identify financial services, fintech, and related enterprise technology firms that are bringing real value into the financial industry. “There is so much hype in the financial services and fintech industry right now, but there are also real companies that are providing real services to the industry,” comments Cukier. “We want to invest in the workhorses, not just the unicorns. These are companies that are powering huge and important parts of the financial services industry, and with the right capital and investment partner, could strategically expand in exciting ways.”
GROWTH EQUITY FIRM
As a growth equity firm, Centana seeks out portfolio companies that have a proven business model, a stable and maturing revenue base, and a high growth rate. The fund is expected to invest between $5 million to $30 million in each portfolio company. Initial investments have already been made in One, Inc., an insurance technology firm; Jumio, a digital identity management firm; Blueprint Software, an application lifecycle management software company; and Vena Solutions, a SaaS corporate performance management (CPM) and analytics platform.
Byunn notes, “We started Centana because we recognize the financial services industry is rapidly evolving, adapting to new regulations, market structures, technology developments, and more. There are firms – some flying under the radar and others that are more well-known – that are helping drive this change across financial services. We want to help accelerate their growth through an investment of our capital, time, resources, insight and network.”
Centana is actively evaluating potential portfolio companies across the financial services ecosystem. With offices in New York City and Palo Alto, Centana comprises a core team of professionals with deep experience working within financial services. Cukier and Byunn were formerly Partners at FTV Capital. Swain was most recently President of Global X Management.
“Having led the growth and strategy of a number of financial institutions, I strongly believe that the future of our industry will be driven by forward-thinking firms that are challenging the status quo,” comments Swain.
Lazard acted as placement agent for the fund.
ABOUT CENTANA GROWTH PARTNERS
Centana is a unique growth equity firm that invests in the future of financial services. We partner with firms across the entire financial ecosystem, from institutions to fintech disruptors. Centana connects our portfolio companies to a catalyzing community that can help accelerate business growth. With offices in Palo Alto and New York, the Centana team taps into decades of financial services expertise and insight to find partner firms that bring real value and innovation into the industry. To learn more, visit www.centanagrowth.com.